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    Property profile & analytics

    2341 John Hawkins Pkwy Hoover, AL 35244-3503

    • Retail space
    • 24,001 SF
    • 2.55 lot acres
    OFF-MARKET
    Value Estimations
    $3,825,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0585502
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail space

    Property Details for 2341 John Hawkins Pkwy

    Year built
    2004
    Lot size
    2.55 lot acres
    Property size
    24,001 SF
    Zone code
    I3
    Property type
    Retail space
    APN
    39-00-28-3-000-001.006
    APU
    3900283000001006

    Description

    Lake Crest Plaza, located at 2341 John Hawkins Parkway in Hoover, Alabama, presents a compelling opportunity for businesses seeking high-visibility retail, office, or restaurant space. This 22,072 square foot, multi-tenant property sits on a 2.61-acre lot and was constructed in 2004. The building's traditional office and storefront subtypes offer versatile options for various business needs. Its strategic location directly on Highway 150/John Hawkins Parkway ensures excellent exposure to a high volume of traffic. The recent widening of Highway 150 to four lanes further enhances visibility and accessibility. Lake Crest Plaza benefits from its proximity to thriving residential areas, including Ross Bridge, Lake Cyrus, and Lake Crest subdivisions, creating a strong customer base. The property's convenient location is also less than a minute away from a Super Target shopping center and a new emergency room building, adding to its appeal and attracting significant foot traffic. This well-established neighborhood shopping center offers a unique opportunity to establish or expand a business in a prime Hoover location within the Shades Crest submarket cluster of Jefferson County. The property's size and configuration make it ideal for a variety of uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,585,000
      6.5%
      $5,155,000
      7%
      $4,790,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,982,000
      Market price range: $699k - $3.98M
      AI Estimate
      $2,332,000
      Market price range: $392k - $2.33M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,305,000
      Current use
      RESTAURANT
      $6,130,000
      Change: +166% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $4,770,000
      Change: +107% Conversion: Difficult
      OFFICE BUILDING
      $4,000,000
      Change: +74% Conversion: Easy
      MEDICAL BUILDING
      $3,820,000
      Change: +66% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,395,000
      Change: +47% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $3,385,000
      Change: +47% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $2,785,000
      Change: +21% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hoover
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.8638
    Latitude
    33.353
    CBSA code
    13820
    CBSA name
    BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $50,647
    $310,600
    $435,400
    $746,000
    -
    $1,553,000
    $2,177,000
    $3,730,000

    Comparable in this City

    • Value Estimation
      $2,215,000
      15,154 SF

      1801 Montgomery Hwy

      RETAIL STORES (PERSONAL SERVICES) • 15,154 SF
      1801 Montgomery Hwy, Hoover, AL 35244-2514
      View Details
    • Value Estimation
      $670,000
      4,941 SF

      3664 Galleria Cir

      RETAIL STORES (PERSONAL SERVICES) • 4,941 SF
      3664 Galleria Cir, Hoover, AL 35244-2346
      View Details
    • Value Estimation
      $855,000
      5,928 SF

      2156 Valleydale Rd

      RETAIL STORES (PERSONAL SERVICES) • 5,928 SF
      2156 Valleydale Rd, Hoover, AL 35244-2009
      View Details
    • Value Estimation
      $4,885,000
      16,488 SF

      2311 John Hawkins Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 16,488 SF
      2311 John Hawkins Pkwy, Birmingham, AL 35244
      View Details
    • Value Estimation
      $890,000
      6,184 SF

      2632 Valleydale Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,184 SF
      2632 Valleydale Rd, Birmingham, AL 35244
      View Details
    • Value Estimation by Request
      40,000 SF

      3075 John Hawkins Pkwy

      Individual retail properties • 40,000 SF
      3075 John Hawkins Pkwy, Hoover, AL 35244
      View Details

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    Similar Nearby for Lease

    • $18 SF/Yr
      40,000 SF

      Hoover Retail Space Available

      Prime Hoover storefront, 2,000 sq ft.
      3075 John Hawkins Pkwy, Hoover, AL 35244
      View Details
    • $22 SF/Yr
      1,250 SF

      Retail Space Near Galleria

      Retail space for lease near Riverchase Galleria and Patton Creek.
      3049 John Hawkins Pkwy, Hoover, AL 35244
      View Details
    • Contact for pricing
      4,500 SF

      Open-Air Shopping Center Space

      Retail and restaurant spaces available in open-air shopping center.
      161 Main St, Hoover, AL 35244
      View Details
    • Contact for pricing
      11,187 SF

      Open-Air Shopping Center Space

      Retail and restaurant spaces available in open-air shopping center.
      4351-4401 Creekside Ave, Hoover, AL 35244
      View Details
    • Contact for pricing
      3,326 SF

      Retail Space in Patton Creek

      Retail space available in open-air shopping center.
      160 Main St, Hoover, AL 35244
      View Details
    • $11 SF/Yr
      5,850 SF

      Highway 150 Retail/Warehouse Space

      Retail and climate-controlled warehouse space available on Highway 150.
      2711 John Hawkins Pkwy, Hoover, AL 35244
      View Details
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    Hoover, AL 35244-3503
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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